www.iva.co.uk

Does the following statement mean I am to pay 50% of my overtime to the IVA or do i calculate the 10% first?
Also i realised I have just been paying the 50% in without contacting anyone. Is this going to be a problem?



The debtor shall report any overtime,bonus or commission, or similar to the supervisor if not indeed the original surplus calculation and where the sum exceeds 10% of the debtors normail take home pay. Disclosure to the supervisor will be made within 14 days of reciept and 50% of the amount (over and above the 10%)shall then be paid to the supervisor within 14 days of the disclosure

Hi 63k

You get your normal take home pay (i.e. £1,000) and add 10% on top (i.e. £100 = £1,100). Provided your take home pay is less than this, then there is no need to pay anything additional over.

However, if your take home pay was £1,170 for example, then you would pay 50% of the £70 you are over the £1,100 (i.e. £35).

This was covered in a post yesterday I believe.

thats great thanks, I have been paying the 50% without the 10% leeway, and I also forgot to put in my child benefit to the basic pay...so this would be covered by the 10%. So in theory by the 1st year anniv I should be up to date with the payments.

I have been doing this too 63k but because I've overpaid I am claiming the money back from my IP as it should be mine by rights .Cat

Can you not just deduct your overpayments from your next lot of overtime? Or was it over a long period?

hi, yes I suppose we could, but he rarely does OT. This was the xmas lot and he proberbly won't do it again (because it's not available unfortunately) untill next xmas.Cat